Market Analyst Predicts Imminent Digital Asset Market Correction: Altcoins in the Spotlight

# Digital Asset Market Faces Potential Correction Despite Recent Rally The digital asset market has displayed strong upward momentum in recent weeks, yet multiple analyses forecast a potential correction ahead. According to a report by Daily Hodl on April 30, prominent digital asset analyst Altcoin Sherpa shared insights on X (formerly Twitter), expressing concerns about an impending market downturn. In his post, Sherpa advised investors to “maintain long positions but set relatively tight stop-loss levels to manage risk.” > “The market is in a weird spot where we know a dip is going to come soon, but it could pump another 5-10% higher before it does. The best move is probably to stay long with some tightish stops,” Sherpa stated. # Opportunity Amid Correction Sherpa suggested that the anticipated market correction could present an opportune moment for investors looking to enter the digital asset space. Should a broader market pullback materialize, Sherpa mentioned plans to acquire additional positions in five specific altcoins. The altcoins Sherpa is eyeing include [Bonk (BONK)](https://api.blockmedia.co.kr/binance/outlink/?path=bonk1), Fartcoin (FARTCOIN), Popcat (POPCAT), HyperLiquid (HYPE), and [GUNZ (GUN)](https://api.blockmedia.co.kr/binance/outlink/?path=gunz). “While there are many other notable altcoins, these currently make up my short-term buy list,” he commented. # Fartcoin: Targeting Resistance Levels Sherpa specifically highlighted Fartcoin for its potential upside while outlining key support and resistance levels. He emphasized that the meme coin must hold above the $1.05 support level to sustain its upward trajectory. A breach below this threshold could result in a decline to $0.80. “Remember, hot air rises in the end,” Sherpa quipped regarding Fartcoin, while adding that its price action is largely contingent on [Bitcoin (BTC)](https://api.blockmedia.co.kr/binance/outlink/?path=bitcoin) trends. Sherpa’s chart analysis suggests that Fartcoin could rally as high as $1.40. As of 5:13 a.m. KST on April 30, Fartcoin was trading at $1.12 on CoinMarketCap. # Bonk: Chart Shows Strength Sherpa also noted strong technicals for [Bonk (BONK)](https://api.blockmedia.co.kr/binance/outlink/?path=bonk1), describing its chart as “very powerful.” Expressing regret for not fully filling his orders in time, he humorously remarked, “I bought a tiny bit last night and am up about 10%, but I’m really sad I never got my full order in.” At the same time, Bonk was trading at $0.0000196 on global exchange Binance. > “The chart itself still looks fire,” Sherpa added, conveying optimism about Bonk's near-term potential. As the digital asset market awaits further developments, Sherpa’s commentary emphasizes the delicate balance between seizing opportunities during bullish phases and managing risk amid potential corrections.